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Thursday, November 30, 2023 –To be successful in any business, favourable business environment demands that there is market, security, accessibility and lastly steady client.
Opening a business enterprise also requires other prerequisites such as licenses and other documentations including agreements with landlords and suppliers.
You will also need to have a team of marketers and sales people who could help push products deep into the market.
To succeed in business, one must also consider other areas such as competition – healthy competition is crucial for any success and to draw more customers around the location while, on the other hand, unhealthy competition will mean more effort from your part. Both are unavoidable in many industries.
The kind or type of a team you put together also highly helps a business to grow faster but, regardless, every business person should learn to respect the natural stages in a business.
There are at least three stages of a business – incubation which is the early stage, growth, stabilisation and expansion. All these levels require patience and commitment from the owner.
Lastly, do not expect to grow within an overnight. Businesses must also learn market and trends on their own. First year is a make or break year. Most businesses fail within their first year of starting because of above listed factors.
Customers, also naturally, take time to learn of your product. They, therefore will take their sweet time to start buying anything – product or service- from your shop or office.
It goes without saying, good service should be the main aim not money. With good service, other things will definitely follow.
